Start Discovering Solved Questions and Your Course Assignments
TextBooks Included
Active Tutors
Asked Questions
Answered Questions
Why may expenditure data underestimate the influence of the public sector upon the economy?
What factors might have been responsible for the growth of government expenditure between 1920 and 1940?
What value maximizes revenue per member of the profession? If the benefit from the profession is vn, what is the ancient membership?
How can right-wing and left-wing governments be modeled using the budget-setting framework?
Why might it be better to tolerate bureaus of excessive size rather than permit bureaucrats to seek rewards in cash?
Describe the benefits a bureaucrat can obtain from an increase in bureau size. Are there any private costs?
Assess the answer relative to the arguments of the development model. Do the data describe a relation of demand to income that supports Wagner's law?
Give a graphical illustration of a preference relation generating a price elasticity of demand for public good that is less than one in absolute value.
Provide a graphical two-commodity example of a preference relation generating an income elasticity of the demand for public good that is greater than one.
What restricts the policies that a government can choose? Are there any arguments for imposing additional restrictions?
Which is the norm in the United States, affects total labor costs differently from health insurance. What kinds of industries are likely to be most affected?
Health care costs are affected by information asymmetry since the provider is generally. What kinds of policy changes might help to address that problem?
Consumer 1 obtains no pleasure from good 1, and consumer 2 obtains no pleasure from good 2. Draw the preferences of the consumers in an Edge worth box.
How would you model the discovery? Discuss the number of goods that should be included in the model.
Keynesian models in macroeconomics are identified by the assumption of a fixed price for output. Are such models partial or general equilibrium?
Distinguish between partial equilibrium analysis and general equilibrium analysis. Briefly describe a model of each kind.
What proportion of the world's economies (by number, population, and wealth) can be described as mixed?
If the European Union considered replacing the income tax with an increase in VAT, would you model this using partial equilibrium?
To analyze the effect of a subsidy to rice production, would you employ a partial equilibrium or a general equilibrium model?
Can an economic model be acceptable if it assumes that consumers solve computationally complex maximization problems?
Plot the possible shares that the two people can have. What allocation of shares would you choose? How would your answer change if y = [1 - x ]4?
High income earners should pay a high rate of tax because their labor supply. Distinguish between the positive and normative components of this statement.
You are searching for a high wage from a wage distribution that is uniform on the interval (5, 8). What is the smallest wage you should accept?
Find what price would you bid if you must win the project? What price would you bid if you want to maximize the expected value of the contribution from the cont
Draw the new demand curve given by this change, labeling it D2. Show the new equilibrium price and output, labeling this point A..